Pros
There was a lot of time spent on team-building, which made it easier to get to know and understand coworkers. Middle management took time to talk to employees and listen to concerns.
Cons
In six months, my team worked in 3 different locations and for different departments. Opportunities for career advancement and learning would be promised and then they'd fall through because the whole company was behind and had failed to meet client deadlines. Employees were penalized if they worked more than 39.9 hours a week, but then they were pressured to work overtime and Saturdays when the company failed to meet client expectations. The company was growing quickly, but they didn't always know what to do with their people. College graduates who'd been hired because of their specific skill sets ended up spending all day every day on menial tasks that amounted to little more than repeated clicking. Asking people to be a team player is reasonable, but wasting employee's skill sets for months on end is not. Team managers are poorly trained and wasted lots of time micromanaging adults. For employees to feel valued, they need to be trusted. There were also attendance policies in place that treated adults like middle schoolers. Attendance policies that discourage people from staying home while sick are bad for company culture, morale, and everyone's health.